re: Options Trading Thread

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I’m assuming you sold covered calls. If so, what strike and expiration did you sell

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This week? Last one was 197.5. Been selling them for a year or more.

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WMT earnings come out pre-market on 5/16 (goes ex-div by probably $.2075 on 5/9). I’ll likely do something with weekly 5/17 options that week

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I'm going to do spreads.

Dropping in. Been a while since I’ve posted.

Sharing a fun little 0DTE “gamble” trade I’ve been doing with good success.

Essentially a SPX long Iron Fly (db) within the last 10 minutes.

Started playing with it in April.

How to:
Buy SPX ATM call/Put. Sell $5 wide call/put.
Attempt to buy for $3.00 or less within 10-5 minutes to exp.

Today’s trade. 2 lots.
-$5170P/$5175 C&P/-$5180C
Time: 2:54:24pm
$2.90db ea ($5.80 total)

Max loss for that example is $5.80 only if SPX exactly pins $5175.00.

SPX finished at $5180.73
Max Profit: $420
In 5 minutes.


Trade Stats (all 1 lot trades)
11 total trades.
9 Wins: $1218 (avg $135)
2 Losses: -$164 2 (avg $81)

Gross P/L: $1054
Fees: $148

Net P/L : $906

ETA: my personal rule.
I don’t like to buy on round “0” numbers. i.e. 5170 or 5180.
Maybe superstitious but I feel like SPX pins those numbers more often. No data to back that up. Lol
So that means you might not get filled at your target debit.
I also won’t put them on within like 3 min or less..